What is risk exactly? According to Webster it means “to expose to the possibility of loss or damage.” Risk in the insurance world is defined as the “possibility of loss.” Many of us are in the business of insuring risk. A noble profession – we recommend to our clients daily that exposed risk can be dangerous to their financial health. We make a living insuring lives, businesses, income potential, and material possessions - all in the hopes of reducing our clients’ risk.
Is there ever a time when risk is good? Absolutely! I say risk can also be the “possibility of gain.” Risk-taking can stretch us and change us. Questions like the following run through our minds when it comes to running our business:
Should I start doing seminar selling?
Should I add another product to my offerings?
Should I hire a staff person?
Should I complete a designation?
Should I add another license?
We take risks every day in this business. Perhaps the first risk we took was giving up a predictable income for an uncertain commission-based income. If you are in the earlier stages of your career, you may be questioning whether that risk was worth taking. Those that have been in the business for a number of years can contest that it most definitely was!
Jim Rohn also says “If you are not willing to risk the unusual, you will have to settle for the ordinary.” No one wants to be ordinary in what we do, but we must take risks in order to get to extraordinary. So, what stops us? The most common thing that stops us is fear of failure or fear of making a mistake. Most have learned from every mistake they have made. I don’t know too many people who would put their hand on a hot burner twice. Mistakes we have made make us who we are today. Thus, the common saying, “nothing venture, nothing gained?” By taking a risk in life we stretch ourselves and learn. Charles Dubois says, “The important thing is this: to be able at any moment to sacrifice what we are for what we could become.”
We take risks in our relationships with our clients. All relationships need to be “give and take.” By being open to others, we may become more vulnerable ourselves, but vulnerability breeds trust in any relationship. If we are vulnerable to our clients, they will tend to open up to us as well. Share with your clients the mistakes you have made along the way. Allow them to learn as well. This same theory works with our peers or staff. High trust is essential in a team atmosphere. Ask for feedback, disclose your inner thoughts to your team and you may be amazed that they will do the same. Creating a culture of trust and openness just may get your entire team to extraordinary.
One of the biggest risks we deal with is the risk of rejection with each sales call. For some, this risk can be paralyzing, especially in the early years. For others it is a risk that pushes them to grow and learn. It motivates them to keep moving forward. Another common saying is so true in this circumstance: “if at first you don’t succeed, try, try again.” How successful would any of us be if we allowed rejection to stifle us? So, take a risk and talk to a prospect that may feel beyond your reach, learn a new way of marketing yourself and your services, or schedule a meeting with your legislator to share your view of a legislative issue pertinent to your business. I think Mark Twain sums it up very well with, “Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.”
Take a risk today,
-Juli McNeely